MannKind soars on drug recommendation; Apollo slumps

SaumyaVaishampayan

SAN FRANCISCO (MarketWatch) — MannKind Corp. surged on Wednesday after positive news on a diabetes drug, while shares of for-profit educator Apollo Education Group Inc. slumped on weak quarterly sales.

Lufthansa grounds 3,800 flights

(0:58)

Pilots begin a three-day protest over changes in retirement benefits. The airline said as many as 425,000 passengers would be affected.

MannKind
MNKD, -1.50%
shares leapt 74%. The pharmaceutical company said late Tuesday its diabetes treatment Afrezza was recommended for approval by a Food and Drug Administration advisory committee. The FDA has until April 15 to make a decision.

Gainers

Shares of Intuitive Surgical Inc.
ISRG, +0.73%
extended gains, adding 5%, following a rally of 13% on Tuesday. The company said it received the go-ahead from the U.S. Food and Drug Administration for its da Vinci Xi Surgical System.

Pitney Bowes Inc.
PBI, -1.34%
shares rose 4.4%. It was not immediately clear why the stock is rallying, but shares have risen 15% this year.

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